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Faraday Concerns not an issue: Penske

Faraday Future have been placed under the microscope in recent weeks, as the start up company abandoned its plans to build its electric car factory in Vegas due to funding issues.

The American company has teamed up with Dragon Racing and will be producing the team’s powertrain for season four onwards.

However, Jay Penske, the Team Principal for Dragon Racing is not concerned by the company’s decision of holding off their factory plans.

“For us, nothing has changed,” said Penske. “The Faraday Future engineers have been in regular contact with us. We haven’t seen any changes to our working relationship despite the recent news.

“People probably don’t remember Tesla’s stocks hitting bottom and, everyone was running around wondering what will happen. But now look at Tesla, and what they are achieving.

“These companies are start-ups, and they show incredible promise, and they are risk takers, but at the end of the day not all of them work out, but we firmly believe that Faraday will not only succeed but will continue to build market share in the EV market,” said Penske.

Dragon Racing currently sit in tenth place in the constructor’s championship after eight rounds.